Lecture 15 - 03:35 Review Whydopeoplemarry...

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03:35 Review Why do people marry? Marriage market theory Specialization model  Husbands and wives often do trade skills  Man specializes in wage earner  Women specializes in childrearing and homemaking  1950s  Independence model Both spouses participate in labor force and together they benefit off each other  economically  Benefits of coresidence Benefits of marriage Causation vs selection Preview Work and Families I Rise in female labor force participation Mothers’ time with children  It’s complex. Please study carefully Not really but reasons are complex  Female Labor Force Participation (LFP) The movement of married  women into the labor force is one of the most important  changes in the American family in the 20th Century Led to a profound change in the gender balance of power Accompanied the transition of the companionship marriage to the individualized  marriage  Labor force: 
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Employed (full or part time) Working for pay or profit for at least one hour per week Unemployed (not working but looking for work) Actively seeking work  Non-employed  Not employed and not unemployed  Not actively seeking paid employed  Union between employed individuals and unemployed individuals 
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Lecture 15 - 03:35 Review Whydopeoplemarry...

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